1920, Banque de l’Indochine, Papeete, 20 Francs, overprinted “ANNULE”, Pick 5. A very rare banknote. PMG has only graded two examples of this banknote in total and VF 20 is the "Top Pop" quality. One of the major rarities of Tahiti and the other PMG graded example sold lately with Stack’s (16.1 2025) for 13.000 USD.
PMG 20 Very Fine.
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